Generika Drugstore now in expansion mode

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Monday, November 21, 2011


GENERIKA Drugstore, winner of the Most Promising Filipino Franchise Award for 2011, is strengthening its market presence with a major push for nationwide store expansion.

Founded in 2003, Generika Drugstore is a pioneer in the retail distribution of quality affordable medicines in the country, and has consistently taken the extra step to provide better quality and service.

generika-branch-opens-2011-11-22
(L-R) Mike Maquiran, Generika Franchising Services Corp. (GFSC) business development manager for VisMin; Ma. Lourdes Caridad Verces and Ricardo Verches Jr., Punta Princesa branch franchisees; Hernando Streegan and Florencia Streegan as special guests pose during the opening of Generika branch in Punta Princesa, Cebu. (Contributed photo)

Compared to other generics outlets, Generika Drugstore is distinguished by its air-conditioned stores that protect the therapeutic value of its medicines while ensuring customer comfort and convenience.

Store personnel are well-trained to offer patient counseling and other value-added services.

The success of Generika's business model was recognized recently when it was named the Most Promising Filipino Franchise by the Philippine Franchise Association (PFA) in partnership with the Department of Trade and Industry (DTI), the Philippine Chambers of Commerce and Industry (PCCI), and the Philippines Retailers Association (PRA).

The award was based on a set of carefully crafted criteria, including the franchise concept, sales and marketing, franchise operating system, corporate social responsibility, ethical practices and reputation, growth and financial performance, and profitability.

The award is the only latest recognition for Generika.

In 2009, it was awarded the Best in Franchise Support and Most Promising Franchise by Entrepreneur Magazine. In 2010, its president Teodoro Ferrer became a finalist for the Ernst and Young Entrepreneur of the Year Award administered by SGV Foundation.

Earlier this year, Generika announced plans to expand its franchising operations nationwide, particularly to key cities in Visayas and Mindanao, as well as untapped areas of Luzon to augment its strong presence in Metro Manila and nearby provinces.

In line with this plan of accelerating the number of new franchise stores, the company has rolled out affordable investment packages -- Satellite, Drugstore Conversion and Small Town -- that significantly reduce the capital requirements for opening a Generika outlet.

The Satellite package is offered to Generika franchisees who would like to have one more branch near his/her main outlet.

The Drugstore Conversion package applies to existing pharmacies that wish to convert to a Generika Drugstore, while the Small Town package is recommended for Generika outlets to be located in a rural area with a population of less than 50,000.

For all the franchise packages, Generika provides marketing and operations assistance to help new stores in their promotional efforts and revenue-enhancing efforts, especially in areas where Generika is just starting to thrive.

Starting out with a single outlet in Alabang in 2004, Generika Drugstore expanded to 16 company-owned stores in 2008. Since then, Generika opened up franchising opportunities to Filipino entrepreneurs. With 210 branches nationwide, Generika plans to add at least 180 stores annually.

Its goal is to become a nationwide chain that performs a vital service to the community by providing access to affordable, quality medicines, as well as superior service driven by a strong sense of social purpose.

To explore the Generika franchise business, interested entrepreneurs may contact the Generika Franchising Services Corp (GFSC) at 824-4685 / 0922-8984982.

You may also visit the company website at www.generika.com.ph. A dedicated team of Generika Business Development staff will help you understand the business operations, as well as support services toward a successful Generika venture. (PR)

Published in the Sun.Star Cagayan de Oro newspaper on November 22, 2011.

Business

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